[Federal Register Volume 64, Number 138 (Tuesday, July 20, 1999)]
[Notices]
[Page 38909]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-18399]
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FEDERAL RESERVE SYSTEM
Notice of Proposals to Engage in Permissible Nonbanking
Activities or to Acquire Companies that are Engaged in Permissible
Nonbanking Activities
The companies listed in this notice have given notice under section
4 of the Bank Holding Company Act (12 U.S.C. 1843) (BHC Act) and
Regulation Y (12 CFR Part 225), to engage de novo, or to acquire or
control voting securities or assets of a company, including the
companies listed below, that engages either directly or through a
subsidiary or other company, in a nonbanking activity that is listed in
Sec. 225.28 of Regulation Y (12 CFR 225.28) or that the Board has
determined by Order to be closely related to banking and permissible
for bank holding companies. Unless otherwise noted, these activities
will be conducted throughout the United States.
Each notice is available for inspection at the Federal Reserve Bank
indicated. The notice also will be available for inspection at the
offices of the Board of Governors. Interested persons may express their
views in writing on the question whether the proposal complies with the
standards of section 4 of the BHC Act.
Unless otherwise noted, comments regarding the applications must be
received at the Reserve Bank indicated or the offices of the Board of
Governors not later than August 3, 1999.
A. Federal Reserve Bank of Chicago (Philip Jackson, Applications
Officer) 230 South LaSalle Street, Chicago, Illinois 60690-1413:
1. Firstar Corporation, Milwaukee, Wisconsin (Firstar); to acquire
all the nonbank subsidiaries of Mercantile Bancorporation, Inc., St.
Louis, Missouri (Mercantile), and to engage, directly or indirectly
through such nonbank subsidiaries, in a variety of nonbanking
activities that have previously been determined to be permissible for
bank holding companies. The nonbanking companies that Firstar proposes
to acquire are listed in the notice filed with the Board, and include
FFG Trust, Inc., Springfield, Illinois, Mercantile Trust Company
National Association, St. Louis, Missouri, D.D. Development of
Sterling, Sterling, Illinois, Mercantile Consumer Loan Company, Rock
Island, Illinois, and Mississippi Valley Life Insurance Company, St.
Louis, Missouri. The nonbanking activities of the companies to be
acquired also are listed in the notice and include engaging in trust
company functions, pursuant to Sec. 225.28(b)(5) of Regulation Y;
community development financing and investment activities, pursuant to
Sec. 225.28(b)(12)(i) of Regulation Y; making and servicing loans,
pursuant to Sec. 225.28(b)(1) of Regulation Y; and credit insurance
activities, pursuant to Sec. 225.28(b)(11)(i) of Regulation Y; and in
engaging all activities that Mercantile currently is authorized to
conduct.
Board of Governors of the Federal Reserve System, July 14, 1999.
Robert deV. Frierson,
Associate Secretary of the Board.
[FR Doc. 99-18399 Filed 7-19-99; 8:45 am]
BILLING CODE 6210-01-F
